Choose your broker carefully

SweetPrincess

Trader
May 9, 2017
117
21
24
39
It is impossible to emphasize the importance of the choice of a broker. We must not neglect in choosing your broker. Your expertise level and trading goals should match the details of the offer made by the broker. You should always refer to Forex broker reviews to find a reliable broker that best suites your trading style.
 
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garena

Master Trader
Jan 28, 2014
243
5
54
In my opinion we should check the review sites like forex peace army to get traders' actual insight about any broker before finalizing them.
Only FPA is not enough, you need referring from many sources as real trader. Normally if a broker that many trader could withdraw their profit smoothly for a long time, that could ba a good choice.
 
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xerof

Trader
May 14, 2017
85
5
14
I hope you corrected yours mistakes. When I was a newbie my biggest mistake was that i didnt use forex rebates. I traded a lot of lots, my broker earn money on me, and I didn't get nothing in return. I corrected my mistake. :)
 

jellyeb

Active Trader
Jun 10, 2015
248
11
29
Yeah trading costs can affect your profit considerably, especially if your scalper. I would really like to get more information what rebate service to choose what does it cost and how much will I benefit from it.
I hope you corrected yours mistakes. When I was a newbie my biggest mistake was that i didnt use forex rebates. I traded a lot of lots, my broker earn money on me, and I didn't get nothing in return. I corrected my mistake. :)
 
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Oct 2, 2017
3
0
1
36
Find a broker with a solid reputation, regulated in one or two countries. STP brokers who will never cheat and manipulate your orders.
 

Shaun Henry

Trader
Dec 29, 2016
47
1
19
29
When I started up, I was careless about selection of broker, but once I suffered with Instaforex and few other brokers, I realized it just not going to work for me. Then onwards, I did proper research and went with brokers that were proven good and I feel happy now with my career.
 
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danielelton

Trader
Jun 15, 2016
8
1
22
41
It is very difficult to find a suitable broker if you do not know about it. A trader needs to study about broker before goes to choose it.
Because you can not give your hard earned cash to the scammers. I have gone through a lot of articles recently to understand the functionality about forex brokers. Unfortunately, nowhere I get complete brokers guides for beginners. I find the following article at last. I think it will make your sense clear about forex broker and help you in choosing the right one.
 
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JohnyIve

Trader
Feb 11, 2018
63
10
14
30
To tell the truth i didn't see traders without mistakes. This sphere has to be learned step by step and it's normal to make some mistakes when you're newbie. But it's a big problem if after monthes of trading you still regulary lost your deposit. But for those who wanna safe his funds:
1. Always use demo accounts. Expecially when u see good strategy or when you doubt;
2. Don't forget about money managment and risk managment. Nice and easy)
 
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Bradley79

Newbie
Feb 5, 2018
3
0
2
30
Always do your broker research. Don`t believe everything you read on the broker's website, review site or forum.
If they claim that they are regulated by CySec for example - go on the cysec site and check if it really is.
Find reviews from as many places (and as fresh) as possible.
Check if the broker is a DD or NDD.
Find out what their margin calls and automatic stop-out levels are at.
Do they have negative balance protection?
Do they allow EAs and auto trading?
What is their order execution (STP/DMA)?
Are the customer and broker accounts segregated?
What are the fees and taxes?
What is the leverage they offer?
Before opening and funding a live account - always test with a demo one.
Learn the minimum deposit and withdrawals policy. Also - see what the rules for making a withdrawal are.
Never invest more than you can afford to lose.
Don`t put all your eggs in one basket - diversify your portfolio and hedge your possitions.
 

Sforextrader

Active Trader
Mar 3, 2018
77
1
34
Bangladesh
I see that there is a lot of discussion on this topic on the Forex topic, and that there are enough questions from beginners, as well as criticism from those who are already trading, so I think that a special topic is definitely needed.
 

Sforextrader

Active Trader
Mar 3, 2018
77
1
34
Bangladesh
I think the choice of brokers for anyone who wants to deal with a forex key item in this business and I do not mean just about spread or commissions in terms of who is cheaper, but most of the security of the funds invested, as well as on regular earnings or invested capital .
 
May 11, 2018
15
1
7
37
It is impossible to emphasize the importance of the choice of a broker. We must not neglect in choosing your broker. Your expertise level and trading goals should match the details of the offer made by the broker. You should always refer to Forex broker reviews to find a reliable broker that best suites your trading style.
Right. There are lot of scams available in the market. One need to be diligent enough when choosing a broker. It can either love you (genuine), play you (lukewarm) or broke you (fake).